Colombia's Avianca reports Q1 net loss of $121m due to pandemic
Avianca Holdings reported a $121m loss for Q1 late Monday, accounting for just two weeks of severe impact from the coronavirus crisis. The airline was the first in the region to file for bankruptcy protection in the United States and spent a full three months grounded without operating any regular flights. It has since restarted some operations in Ecuador, but its hubs in Colombia, El Salvador and Peru remain closed. Avianca’s revenue fell 18% in the first three months of the year to $943m, but had fallen 51% by early June, the airline said.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-06-17/star/colombias-avianca-reports-q1-net-loss-of-121m-due-to-pandemic
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Colombia's Avianca reports Q1 net loss of $121m due to pandemic
Avianca Holdings reported a $121m loss for Q1 late Monday, accounting for just two weeks of severe impact from the coronavirus crisis. The airline was the first in the region to file for bankruptcy protection in the United States and spent a full three months grounded without operating any regular flights. It has since restarted some operations in Ecuador, but its hubs in Colombia, El Salvador and Peru remain closed. Avianca’s revenue fell 18% in the first three months of the year to $943m, but had fallen 51% by early June, the airline said.<br/>
